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8604 E Corrine Drive Scottsdale, AZ 85260

5 Beds 3 Baths 4,214 sqft Built 1991

$1,350,000

List Price

$5,950

$5.7K - $6.2K

Rent Est.

PROPERTY INFO

January 01, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1991
  • Price/Sqft : $320.36
  • 3 Days on Market
  • MLS # : 6175809
  • Updated Date : 01/02/2021 at 18:28
CONSTRUCTION
  • Beds : 5
  • Floor Size : 4,214 sqft
  • Baths : 3 full
Listing Agent

Homesmart

Listing Agent's Description

Beautiful custom home on a quiet cul-de-sac, landscaped for privacy. Upon entering notice the custom front door and high ceilings. Custom finishes throughout the home will show the quality the builder put into it. Like to cook - then you'll appreciate the chef's kitchen with Wolf appliances, over the stove pot filler and large island for prep. The large master bedroom includes gas fireplace, large walk-in closet, steam shower, sauna personal entrance to the backyard. Entering the backyard you'll see the landscape was designed for privacy but also for sunsets as the lot sits higher that the lots behind it. Backyard features everything you'd expect - pool, spa, gas fireplace and bbq. Please don't miss the large garage as driveway parking for 6+ vehicles.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Astoria

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700k750k800kPrice in $122k846k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Astoria

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800300032003400360038004000Rent in $10454163

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Sonoran Sky Elementary School Primary Regular 715 37 9
Desert Shadows Middle School Middle Regular 906 34 9
Horizon High School High Regular 2,262 86 8

Sonoran Sky Elementary School

  • Education Level: Primary
  • # of students: 715
  • # of teachers: 37
9
GreatSchools Rating

Desert Shadows Middle School

  • Education Level: Middle
  • # of students: 906
  • # of teachers: 34
9
GreatSchools Rating

Horizon High School

  • Education Level: High
  • # of students: 2,262
  • # of teachers: 86
8
GreatSchools Rating
 

$1,215,000$1,485,000$1,350,000

PURCHASE PRICE

$5,355$6,545$5,950

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $5,950
EXPENSES Loan Payment -$4,981
Property Tax -$1,005
Property Insurance -$109
HOA -$13
Property Management Fees -$99
CASH FLOW
-$257

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 16% of earned rent to cover both maintenance and periods of vacancy.

$1,350,000

PROJECTED PRICE

$5,950

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.36%
Appreciation Year (1-5) 3.8%
Maintenance Year (1-5) 8.00%
Vacancy 7.72%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M

PROJECTED ANNUAL CASH FLOW

11530-$10k$0.0$10k$20k$30k$40k$50k$60k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$363,500

INVESTMENT

$363,500

Down Payment
$337,500
Rehab Estimate
$5,750
Closing Costs
$20,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$4,981

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $337,500
Loan Amount $1,012,500
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$65,968

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $5,950

    LIST RENT
  • $1.41

    LIST RENT PER SQFT
  • $5,973

    COMP ESTIMATED VALUE
  • $1.42

    COMP AVG. RENT PER SQFT
Comps Range
$4,300
1$4,3002$5,9503$6,0004$6,7005$6,800
$6,800
RENT COMPS ANALYSIS
  • 8604 E Corrine Drive Scottsdale, AZ 2
    • 5 beds 3 baths ∙ 4,214 Sqft ∙ Built 1991 5 beds 3 baths ∙ 4,214 Sqft ∙ Built 1991
    • Rent
    • Rent Per SQFT
    •  
    • $5,950
    • $1.41
    •  
  • 8732 E Sharon Drive Scottsdale, AZ 1
    • 4 beds 4 baths ∙ 3,969 Sqft ∙ Built 1997 4 beds 4 baths ∙ 3,969 Sqft ∙ Built 1997
    LEASED 07/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,300
    • $1.08
    •  
  • 8396 E Sunnyside Drive Scottsdale, AZ 3
    • 5 beds 5 baths ∙ 3,900 Sqft ∙ Built 1993 5 beds 5 baths ∙ 3,900 Sqft ∙ Built 1993
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $6,000
    • $1.54
    •  
  • 9874 E Gray Road Scottsdale, AZ 4
    • 5 beds 5 baths ∙ 4,509 Sqft ∙ Built 2004 5 beds 5 baths ∙ 4,509 Sqft ∙ Built 2004
    LEASED 12/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $6,700
    • $1.49
    •  
  • 9490 E Cactus Road Scottsdale, AZ 5
    • 5 beds 4 baths ∙ 4,366 Sqft ∙ Built 1991 5 beds 4 baths ∙ 4,366 Sqft ∙ Built 1991
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $6,800
    • $1.56
    •  
PROPERTY LISTING DETAILS
Michael Hosfeld
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6175809
Last Updated: 01/02/2021
support@investimateroi.com

Indicates a property listed by a real estate brokerage other than HomeUnion/Investimate by Mynd. All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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